reporting earnings per share disclosures

Reporting Earnings per Share Disclosures Siera Inc had 350,000 shares of common stock outstanding throughout the year that declared and paid dividends of $150,000 during the year. The company aiso declared and paid dividends of $15,000 on 90,000 shares of preferred stock during the year. The company reported the following amounts in its income statement for the year ended December 31 (pretax). Required a. Prepare the earnings per share section of the income statement for the year ended December 31 , assuming a tax rate of 25% - Use a negative sign to indicate a loss. - Enter the answers for per share amounts in dollars and cents, rounded to the nearest penny. Required b. Repeat requirement of part a except now assume that the company reported income from discontinued operations of $105,000. - Use a negative sign to indicate a loss. - Enter the answers for per share amounts in dollars and cents, rounded to the nearest penny